Capital Raising and Finsure Transaction Update

The proposed merger with Finsure involves the acquisition by Goldfields Money of 100% of the diluted shares in Finsure via the issue of Goldfields Money shares.

Key Terms

CONSIDERATION SHARES

Goldfields Money proposes to issue 40,750,000 fully paid ordinary shares to Finsure shareholders based on an agreed issue price of $1.50 per share valuing Finsure at ~$61 million and the merged group at ~$98 million

BOARD COMPOSITION

Finsure co-founder and CEO, John Kolenda, has joined the Goldfields Money Board at the invitation of the existing Board

CONDITIONS

The proposed merger is subject to satisfaction (or waiver, if applicable) of the remaining conditions:

- Whilst the intention is to keep the Goldfields Money and Finsure businesses operationally separate, there are a number of opportunities to rationalise functions that are duplicated including back-office support and credit assessment

Goldfields Money (ASX:GMY) is Australia's new revolutionary digital bank, distributing first class products through a largely branchless distribution network. A bank without the bank. This digital banking platform is built on the recently implemented mobile first, world class core banking system provided by Temenos and our proprietary mortgage distribution software "Loankit".

Goldfields is ASX listed (ASX:GMY) with two key divisions:

Banking (operates under "Goldfields Money" and "Better Choice" brands) - an APRA regulated bank that offers deposit and loan products that are funded either on-balance sheet or off-balance sheet through a range of third party lenders. Our deposits are all guaranteed by the Australian Government Deposit Guarantee for up to $250,000 per customer. We are the new approach to banking in Australia, we're honest, with transparent bank practices and a straightforward approach to you and your money. It's all yours, honestly.

Mortgage Aggregation (operates under "Finsure" and "Loankit" brands) - an ASIC regulated mortgage aggregation and software technology platform with over 1,475 loan writers as of 31 August 2018. Finsure puts brokers first and is a leader in the market in offering a diverse lending panel, flexible commission models, training, lead generation, proprietary SaaS and mortgage broker support services. Finsure was also recently named Aggregator of the Year for 2017 at the Australian Mortgage Awards.